By Susanna Moon
Chicago, Oct. 5 – Punjab & Sind Bank notified the Bombay Stock Exchange that it sold Rs. 5 billion of 7.99% bonds in a private placement.
The company had planned to issue up to Rs. 5 billion of the Basel 3-compliant tier 2 bonds, and the placement was fully subscribed, according to the notice.
As announced Tuesday, bids for the bonds (Care: AA; Crisil: AA) could have been made through the electronic bidding platform of the National Stock Exchange of India Ltd.
Punjab & Sind is a government-owned bank based in New Delhi.
Issuer: | Punjab & Sind Bank
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Issue: | Tier 2 bonds
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Amount: | Rs. 5 billion
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Coupon: | 7.99%
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Settlement date: | Oct. 5
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